After rumors of cancellation continued to circulate after festival organizers postponed the ticket on-sale date last week, Woodstock 50 will officially not take place in 2019. The 50th anniversary of the original legendary event was set to take place in Watkins Glen, NY, with an eclectic mix of artists like Dead & Company, Santana, The Killers, Jay-Z, Chance the Rapper, Miley Cyrus and many more. One headliner, The Black Keys, had already dropped out of the lineup even before the ticketing pushback.

As Billboard reports, representatives from Dentsu Aegis Network, the organization funding Woodstock 50, released a statement confirming the festival’s cancellation.

“As a result and after careful consideration, Dentsu Aegis Network’s Amplifi Live, a partner of Woodstock 50, has decided to cancel the festival,” the statement reads. “As difficult as it is, we believe this is the most prudent decision for all parties involved.”

The statement goes a bit deeper into the reasoning behind the cancellation: “It’s a dream for agencies to work with iconic brands and to be associated with meaningful movements. We have a strong history of producing experiences that bring people together around common interests and causes which is why we chose to be a part of the Woodstock 50th Anniversary Festival. But despite our tremendous investment of time, effort and commitment, we don’t believe the production of the festival can be executed as an event worthy of the Woodstock Brand name while also ensuring the health and safety of the artists, partners and attendees.”

UPDATE: A statement from Woodstock 50 organizers refutes the cancellation announcement from Dentsu Aegis. According to the Poughkeepsie Journal, the statement reads, “Woodstock 50 vehemently denies the festival’s cancellation and legal remedy will [be] sought.”